Brits ‘becoming obsessed with finances’

The results of a recent survey showed that around 25 per cent of all Brits know precisely how much money they have in their bank accounts at any given time and close to 38 per cent are aware of their bank balance to within the nearest ten pounds.

Furthermore, one in seven of those surveyed by Sybase 365 indicated that there obsession over personal finances means they check their balance every day, while around two-thirds assess their cash flow every 48 hours or so.

Mark Weait of Sybase 365 said: “Consumers are becoming increasingly vigilant when it comes to their finances and take a prudent attitude to money.”

“This is based on a number of emotive issues that have been highlighted in the media recently such as monitoring bank charges for exceeding your overdraft limit, fraud prevention and identity theft,” he added.

Meanwhile, figures from Credit Action show that excluding mortgages the average household debt management burden totals £8,883 in the UK.

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ClearDebt proposes and administers Individual Voluntary Arrangements (IVAs). We only provide advice on the basis that there is reasonable contemplation of an insolvency appointment, once it is apparent that an IVA is likely to be the most appropriate debt solution.

David Emanuel Merton Mond is licensed to act as Insolvency Practitioners in the UK by the Insolvency Practitioners Association.
Elaine Masters is licensed to act as an Insolvency Practitioner in the UK by the Institute of Chartered Accountants in England and Wales.